Location: Isabella County, MI | Metro: Montcalm County, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 48877 stands out due to its unique demographic and economic characteristics. With a population of 1,962 residents, only 7.2% of whom rent their homes, this area has a predominantly owner-occupied housing stock. The median income of $64,653 is relatively modest, but it contrasts sharply with the high median home value of $189,643, indicating that homeownership is a significant factor in the local economy.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 48877 is set at $930 for fiscal year 2024. This figure is notably higher than the actual market rent of $636, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy suggests that landlords participating in the Section 8 program can expect to receive rental payments that exceed the typical market rates, potentially providing a financial incentive to accept Section 8 tenants despite the lower overall percentage of renters in the area.
The data signature for ZIP 48877 reads as "stable." The high median home value indicates a strong local housing market, while the modest median income implies that homeownership is still accessible to many residents. The relatively low percentage of renters suggests that the housing market is not heavily reliant on rental income, which could mean that landlords have more flexibility in choosing tenants. However, the higher FMR compared to the actual market rent offers an opportunity for landlords to benefit financially from the Section 8 program without necessarily increasing their rents beyond what the market supports.
To summarize, ZIP 48877 presents a stable environment for landlords and small-portfolio investors, with the potential for financial gains through the Section 8 program. The economic landscape, characterized by a strong housing market and modest incomes, coupled with favorable voucher economics, makes this ZIP code an attractive option for those interested in the Section 8 program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.